Activities on Nigerian equities market closed positive yesterday, halting days of market downturn following gains recorded by blue chip stocks. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.02 per cent as market sentiments returned to gaining streaks following investors’ renewed optimism on undervalued stocks. Consequently, the All- Share Index gained 7.42 basis points or 0.02 per cent to close at 38,774.03 as against 38,766.61 recorded the previous day while the market capitalisation of equities appreciated marginally by N4 billion or 0.02 per cent to close at 20.286 trillion from N20.282 trillion as market sentiment returned on the green zone.
Meanwhile, a turnover of 356.46 million shares exchanged in 6,130 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 125.29 million shares exchanged by investors in 2,235 deals.
Volume in the sub-sector was largely driven by activities in shares of Zenith Bank Plc and Access Bank Plc. The banking sub-sector, boosted by activities in shares of GTBank Plc and Fidelity Bank Plc, followed with a turnover of 68.56 million shares in 1,066 deals. The number of gainers at the close of trading session was 14 while decliners closed at 27. Jaiz Bank Plc led the gainers’ table by 10 per cent to close at 66 kobo per share while INITS Plc followed with 9.52 per cent to close at 46 kobo per share . Royal Exchange Plc added 8.33 per cent to close at 39 kobo per share.